As of March 26, inventory of iron ore at 33 major Chinese ports amounted to 136.35 million mt, almost remaining stable compared to the inventory levels recorded on March 19, as announced by China's Xinhua News Agency.
As of the same date, the Xinhua-China Iron Ore Price Index for imported iron ore with 62 percent iron content was at 63 points, decreasing by seven points compared to March 19. Meanwhile, the Xinhua-China Iron Ore Price Index for imported iron ore with 58 percent iron content was at 53 points on the date in question, also declining by three points over the same period.
During the given period, import iron ore prices continued to decline, though the decreasing trend had slowed by the end of the week. At the same time, the downward trend of finished steel prices has lost momentum during the week, with finished steel prices increasing today, April 2. Although the improvement in finished steel prices will provide some support for import iron ore prices, pressure from strict environmental protection measures will lower demand for iron ore and exert a negative impact on import iron ore prices. It is thought that import iron ore prices in China are unlikely to indicate a significant improvement in the near future.